Chicago wheat prices reached a three-year high amid fears that the Russia-Ukraine war could escalate, further disrupting grain supplies. The conflict has already damaged ports and terminals, significantly reducing shipments from a key global exporting region. According to sources close to the Kremlin, Russia plans to intensify attacks on Ukrainian infrastructure after deeming peace negotiations a dead end.

This escalation threatens to exacerbate global food supply chain disruptions. Wheat, a staple crop, is central to food security in many countries. Traders are closely monitoring developments, as any further damage to Ukraine's agricultural infrastructure could lead to prolonged supply shortages and continued price volatility in international markets.